It’s basically a CD ripper … and allow you to capture streaming music, turn clips into sound bites, merge multiple audio files and add effects etc.
Taken from Engadget … This comprehensive audio suite packs nine different tools in one program. This includes both a CD ripper and CD burner that can copy tracks from your old CDs into digital formats like WMA, MP3, FLAC and WAV formats or save them to a blank disc. You’re not limited to your old physical library either. With the Video to MP3 tool, you can rip audio from saved videos and turn them into an audio format of your choosing.
Audio Toolbox offers additional features such as a recorder, cutter, joiner and converter. These allow you to capture streaming music, turn clips into sound bites, merge multiple audio files and add effects such as increased speed or altered pitch.
The program’s Transfer to iTunes feature lets you import your newly saved songs for easy media management. From here, you can access your music library by song, album and artist, or create your own personalized playlists to suit the mood. Audio Toolbox’s ID3 Tag Editor lets you adjust the metadata such as song title and track number, which is reflected when you import to iTunes.
Source: Engadget